Dimensional Fund Advisors LP Sells 37,458 Shares of Primoris Services Co. (NASDAQ:PRIM)

Dimensional Fund Advisors LP lowered its position in shares of Primoris Services Co. (NASDAQ:PRIM) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,580,974 shares of the construction company’s stock after selling 37,458 shares during the quarter. Dimensional Fund Advisors LP owned approximately 6.68% of Primoris Services worth $178,660,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Schroder Investment Management Group raised its position in shares of Primoris Services by 4.4% during the fourth quarter. Schroder Investment Management Group now owns 1,005,360 shares of the construction company’s stock worth $33,388,000 after acquiring an additional 41,983 shares during the last quarter. LSV Asset Management increased its holdings in Primoris Services by 9.9% in the first quarter. LSV Asset Management now owns 582,842 shares of the construction company’s stock valued at $24,812,000 after purchasing an additional 52,274 shares during the last quarter. Verition Fund Management LLC increased its holdings in Primoris Services by 64.9% in the fourth quarter. Verition Fund Management LLC now owns 578,845 shares of the construction company’s stock valued at $19,223,000 after purchasing an additional 227,916 shares during the last quarter. Boston Partners increased its holdings in Primoris Services by 5.7% in the first quarter. Boston Partners now owns 537,293 shares of the construction company’s stock valued at $23,332,000 after purchasing an additional 28,997 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Primoris Services by 122.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 523,789 shares of the construction company’s stock valued at $17,395,000 after purchasing an additional 288,651 shares during the last quarter. Institutional investors own 91.82% of the company’s stock.

Primoris Services Trading Up 4.0 %

NASDAQ PRIM opened at $59.36 on Friday. The stock has a 50-day simple moving average of $53.49 and a 200 day simple moving average of $49.70. The company has a market capitalization of $3.19 billion, a PE ratio of 22.40 and a beta of 1.07. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.65. Primoris Services Co. has a 12 month low of $28.96 and a 12 month high of $59.69.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings data on Monday, August 5th. The construction company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.39. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 earnings per share. Research analysts forecast that Primoris Services Co. will post 2.82 EPS for the current year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a $0.06 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.24 dividend on an annualized basis and a yield of 0.40%. Primoris Services’s payout ratio is 9.06%.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, insider John M. Perisich sold 4,391 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $55.33, for a total value of $242,954.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John P. Schauerman sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $54.05, for a total transaction of $1,351,250.00. Following the completion of the transaction, the director now directly owns 162,281 shares of the company’s stock, valued at $8,771,288.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John M. Perisich sold 4,391 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $55.33, for a total value of $242,954.03. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Primoris Services Profile

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems.